Market Overview

UPDATE: Bank of America Merrill Lynch Lowers PO on Bed Bath & Beyond to $75

Share:
Related BBBY
SHIFT Tech Summit In Detroit Looks At What's Next In Virtual Reality
Staples Sold Itself At One Of The Lowest Sales Multiples On Record

Bank of America Merrill Lynch maintains a Buy rating on Bed Bath & Beyond (NASDAQ: BBBY) and lower its price target from $80 to $75.

Bank of America Merrill Lynch notes, “BBBY's fundamentals remain solid, in our opinion. We view 2012 as a year of investment (particularly 2H) with continued gross margin pressure. However, we view these pressures as temporary and remain positive on the company's longer- term outlook, with growth to be driven by all concepts. The proposed Cost Plus acquisition is a strategic positive, in our view, in addition to enhanced sourcing capabilities from its more recently announced acquisition of Linen Holdings. As such, we reiterate our Buy rating.”

Bed Bath & Beyond closed at $73.67 on Wednesday.

Latest Ratings for BBBY

DateFirmActionFromTo
May 2017Loop CapitalUpgradesSellHold
Dec 2016Raymond JamesDowngradesStrong BuyMarket Perform
Dec 2016Loop CapitalInitiates Coverage OnSell

View More Analyst Ratings for BBBY
View the Latest Analyst Ratings

Posted-In: Bank of AmericaAnalyst Color Price Target Analyst Ratings

 

Related Articles (BBBY)

View Comments and Join the Discussion!